Question #3 | Accounting homework help
Skylar and Walter Black have been married for 25 years. They live at 883 Scrub Brush Street, Apt. 52B, Las Vegas, NV 89125. Skylar is a stay-at-home parent and Walt is a high school teacher. Skylar’s Social Security number is 222-43-7690 and Walt’s is 700-01-0002. Neither are age 65 or older. The Blacks provide all the support for Skylar’s mother, Rebecca Backin (Social Security number 411-66-2121), who lives in a nursing home in Reno, NV and has no income. Walter’s father, Alton Black (Social Security number 343-22-8899), lives with the Blacks in Las Vegas. Although Alton received Social Security benefits of $7,600 in 2019, the Blacks provide over half of Alton’s support. Skylar and Walt claim a $500 other dependent credit each for Rebecca and Alton. Walt’s earnings from teaching are:The Blacks moved from Maine to Nevada. As a result, they sold their house in Maine on January 4, 2019. They originally paid $76,000 for the home on July 3, 1994, but managed to sell it for $604,000. They spent $13,000 on improvements over the years. They are currently renting in Las Vegas while they look for a new home.The Blacks received the following 1099-DIV from their mutual fund investments:The Blacks own a ski condo located at 123 Buncombe Lane, Brian Head, UT 84719. The condo was rented for 185 days during 2019 and used by the Blacks for 15 days. The rental activity does not rise to the level to qualify for the QBI deduction. Pertinent information about the condo rental is as follows:Rental income$12,100Mortgage interest reported on Form 10988,600Homeowners’ association dues5,200Utilities1,200Maintenance3,800Depreciation (assume fully depreciated)0The above amounts do not reflect any allocation between rental and personal use of the condo. The Blacks are active managers of the condo.Required: Complete the Black’s federal tax return for 2019. Use Form 1040, Schedule 1, Schedule D, Form 8949, Schedule E (page one only), Form 8582 (page one only) and the Qualified Dividends and Capital Gain Tax Worksheet to complete their tax return.
.Dr. George E. Beeper is a single taxpayer born on September 22, 1971. He lives at 45 Mountain View Dr., Apt. 321, Spokane, WA 99210. Dr. Beeper’s Social Security number is 775-88-9531. Dr. Beeper works for the Pine Medical Group, and his earnings and income tax withholding for 2019 are:Dr. Beeper owns a rental house located at 672 Lake Street, Spokane, WA 99212. The house rents for $1,000 per month and was rented for the entire year. The following are the related expenses for the rental house:The house was purchased on July 5, 1984. Dr. Beeper handles all rental activities (e.g., rent collection, finding tenants, etc.) himself. He spends about 10 hours per month on the rental.In 2019, Dr. Beeper sold his primary residence as he wished to move to an apartment to avoid the maintenance and upkeep of a single-family home. Dr. Beeper’s home sold on February 12, 2019 for $345,000 net after commissions. He acquired the home on June 3, 2001 for $260,000 and had made improvements of $10,000.Dr. Beeper was divorced on January 1, 2013. The divorce decree requires Dr. Beeper to pay his ex-wife, Meredith Gray (Social Security number 333-45-1234), $800 per month. Dr. Beeper made all his monthly alimony payments in 2019.Required: Complete Dr. Beeper’s federal tax return for 2019. Determine if Form 8949 and Schedule D are required. If so, use those forms and Form 1040, Schedule E (page one only), and Form 8582 (page one only) to complete this tax return. Do not complete Form 4562 for reporting depreciation.
Our customer is the center of what we do and thus we offer 100% original essays..
By ordering our essays, you are guaranteed the best quality through our qualified experts.All your information and everything that you do on our website is kept completely confidential.
Academicwritingcompany.com always strives to give you the best of its services. As a custom essay writing service, we are 100% sure of our services. That is why we ensure that our guarantee of money-back stands, alwaysRead more
The paper that you order at academicwritingcompany.com is 100% original. We ensure that regardless of the position you are, be it with urgent deadlines or hard essays, we give you a paper that is free of plagiarism. We even check our orders with the most advanced anti-plagiarism software in the industry.Read more
The Academicwritingcompany.com thrives on excellence and thus we help ensure the Customer’s total satisfaction with the completed Order.To do so, we provide a Free Revision policy as a courtesy service. To receive free revision the Academic writing Company requires that the you provide the request within Fifteen (14) days since the completion date and within a period of thirty (30) days for dissertations and research papers.Read more
With Academicwritingcompan.com, your privacy is the most important aspect. First, the academic writing company will never resell your personal information, which include credit cards, to any third party. Not even your lecturer on institution will know that you bought an essay from our academic writing company.Read more
The academic writing company writers know that following essay instructions is the most important part of academic writing. The expert writers will, therefore, work extra hard to ensure that they cooperate with all the requirements without fail. We also count on you to help us provide a better academic paper.Read more